Oak Branch Inc. issued $860,000 of 5%, 10-year bonds when the market rate was 4%. They received $930,324. Interest was paid semi- annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount. Cash Interest Interest on Amortization of Payment Carrying Value Premium Carrying Value Jan. 1, Year 1 June 30, Year 1 Dec. 31, Year 1 June 30, Year 2 Dec. 31, Year 2 June 30, Year 3 Dec. 31, Year 3
Oak Branch Inc. issued $860,000 of 5%, 10-year bonds when the market rate was 4%. They received $930,324. Interest was paid semi- annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar amount. Cash Interest Interest on Amortization of Payment Carrying Value Premium Carrying Value Jan. 1, Year 1 June 30, Year 1 Dec. 31, Year 1 June 30, Year 2 Dec. 31, Year 2 June 30, Year 3 Dec. 31, Year 3
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Oak Branch Inc. issued $860,000 of 5%, 10-year bonds when the market rate was 4%. They received $930,324. Interest was paid semi-
annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar
amount.
Cash Interest
Interest on
Amortization of
Payment
Carrying Value
Premium
Carrying Value
Jan. 1, Year 1
June 30, Year 1
Dec. 31, Year 1
June 30, Year 2
Dec. 31, Year 2
June 30, Year 3
Dec. 31, Year 3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F402364ab-ca13-4684-81e0-cc3fa30c8da7%2F7ffaa189-2823-436f-a4c2-fafc0b1d524c%2Fowzy7dk.jpeg&w=3840&q=75)
Transcribed Image Text:Oak Branch Inc. issued $860,000 of 5%, 10-year bonds when the market rate was 4%. They received $930,324. Interest was paid semi-
annually. Prepare an amortization table for the first three years of the bonds. Round intermediate and final answers to whole dollar
amount.
Cash Interest
Interest on
Amortization of
Payment
Carrying Value
Premium
Carrying Value
Jan. 1, Year 1
June 30, Year 1
Dec. 31, Year 1
June 30, Year 2
Dec. 31, Year 2
June 30, Year 3
Dec. 31, Year 3
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